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Apollon Formularies to serve South Africa with new venture

The company will be establishing a commercial footprint in the country.

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Apollon Formularies to serve South Africa with new venture
Home » News » International » Apollon Formularies to serve South Africa with new venture

UK-based Apollon Formularies is entering into a joint venture in South Africa with Tri-Medi Canna to establish the jointly owned Apollon SA Pty Ltd.

The establishment of the jointly owned company with Tri-Medi Canna, based in South Africa, is Apollon Formularies’ first international expansion.

With the aim of establishing a strong foothold in the region, the company has said it will be working to make its medical cannabis formulations available for a number of cancer conditions to more patients whilst continuing to collect data. The company has previously stated that its formulations have shown to be effective at fighting prostate cancer and at killing HER2+ breast cancer cells.

Read more: Apollon Formularies opens new cannabis cancer and pain clinic in Jamaica

Stene Jacobs, COO of Apollon Formularies for Europe and Africa, commented: “This is a major step forward in Apollon’s plans to reach global markets and the African market which still remains largely untapped. 

“Tri-Medi Canna’s relationship with necessary key stakeholder in South Africa will provide Apollon with the platform to infiltrate this market, whilst providing the local community with access to training, knowledge and skills and contribute to local employment.

“South Africa has the opportunity to build on its reputation as the regional best in class operator and to showcase its already successful cultivation and plant genetics abilities. In conjunction with this, the South African medical fraternity is deeply admired for being at the forefront of medical advancements, with deep scientific knowledge in conventional and alternate medicine.

“This joint venture agreement validates Apollon’s business model in Jamaica and our ability to replicate and scale up operations to other international jurisdictions. We look forward to keeping the market updated on our progress as we enter this exciting chapter in Apollon’s journey.”

Apollon recently made the announcement it has opened its new International Cancer and Chronic Pain Institute (ICCPI) in Kingston, Jamaica, which will specialise in complementary and alternative medical treatments for cancer patients, prescribing Apollon’s own products. 

As part of the South African joint venture, Tri-Medi Canna will will apply for licenses to replicate those held by Apollon in Jamaica and will provide Apollon access to the South African market as well as the wider SADC region.

Read more: Apollon Formularies intends to advance to a larger exchange

Tri-Medi Canna will also gain access to Apollon’s vast experience across the value chain and the exclusive licensed distribution of Apollon’s proprietary products and formulations once the necessary licenses have been granted by SAHPRA, allowing Tri-Medi Canna to benefit from Apollon’s ongoing international exposure to European markets.

CEO of Tri-Medi Canna, Thokozani Shongwe, stated: “We are delighted to be working with Apollon Formularies as we expand our offering across South Africa and grow our knowledge and skill base through this partnership. 

“Apollon has forged firm routes in Jamaica and its proprietary formulas have consistently proven to be effective during rigourous testing on pre-clinical third-party pharmaceutical laboratory testing conduced in the US on 3D Cell cultures.

“This is a crucial time in the development of the African cannabis sector, and I am proud that Tri-Medi Canna can work with Apollon to establish a strong foothold from which to expand into the SADC and beyond.”

Tri-Medi Canna will work to obtain letters of support from South African Government’s Department of Trade and Industry, Agricultural Research Council and clinical specialists working collaboratively on cannabis research at the University of Kwazulu Natal to support continuing research and development in the medical cannabis sector.

International

Whitehouse remarks on “wrongful detainment” of Griner for Russian cannabis charges

The basketball star has been sentenced to nine years for allegedly smuggling cannabis medicines into Russia.

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Whitehouse remarks on “wrongful detainment” of Griner for Russian cannabis charges
Home » News » International » Apollon Formularies to serve South Africa with new venture

American basketball player, Brittney Griner, aged 31, has been sentenced to nine years in prison in Russia after she was caught in possession of cannabis.

As well as a nine-year sentence for possession of vape cartridges containing cannabis, the WNBA star and two-time US Olympic champion has also been ordered to pay a fine of ₽1m (~£13,745).

Some reports have suggested that the development could see the US and Russia negotiating over a prisoner exchange.

Read more: Billy Hood CBD appeal reduces sentence to ten years

President Joe Biden’s office released a statement on the sentencing of what it describes as the “wrongfully detained” Griner, who has been detained since February,

Biden stated: “Today, American citizen Brittney Griner received a prison sentence that is one more reminder of what the world already knew: Russia is wrongfully detaining Brittney. 

“It’s unacceptable, and I call on Russia to release her immediately so she can be with her wife, loved ones, friends, and teammates.

“My administration will continue to work tirelessly and pursue every possible avenue to bring Brittney and Paul Whelan home safely as soon as possible.”

Griner’s agent, Lindsay Kagawa Colas, said the star was being used as a “political pawn”.

In a press briefing by White House press secretary Karine Jean-Pierre and NSC co-ordinator for strategic communications John Kirby, Jean-Pierre stated: “We have repeatedly called for Russia to release her immediately so she can be with her wife, loved ones, friends, and teammates.

“Under President Biden’s direction, the US government continues to work aggressively, pursuing every avenue to bring home Brittney, Paul Whelan, and every American held hostage and wrongfully detained around the world.

“As you all know, we have made a substantial offer to bring her and Paul Whelan home.  We urge Russia to accept that proposal.

“I’m not able to share more publicly at this time, but we are willing to take every step necessary to bring home our people, as we demonstrated with Trevor Reed. And that’s what we’re going to do here. I can assure you this is something the President and our national security team are focused on every single day.”

Griner has 10 days to appeal the verdict.

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International

Flora Growth partners with Colombia’s largest indigenous tribe in joint cannabis venture

“We are honoured to be given the opportunity to work hand-in-hand with the Misak people,” said Luis Merchan, Flora’s Chairman and CEO.

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Flora Growth Colombia

Flora Growth has entered an agreement with one of Colombia’s main indigenous tribes to process and distribute cannabis products.

Flora Growth has entered into a joint venture agreement with Pharma Indigena Misak Manasr Sas, the largest indigenous tribe in Colombia, on the development of cultivation best practices, manufacturing, export and marketing of cannabis and cannabis-containing products.

Under the agreement, the outdoor cultivator, manufacturer and distributor will provide Manasr regulatory advice, technical and business support related to product development and distribution, promotion of products to be marketed under the Flora brand portfolio, and cannabis derivatives to complete product production.

Additionally, Manasr will work closely with Flora in developing cannabis pharmaceuticals and products and help advance the approvals and authorisations required for exports of cannabis from Colombia.

“We are honoured to be given the opportunity to work hand-in-hand with the Misak people,” said Luis Merchan, Flora’s Chairman and CEO.

“Through this partnership, we will collaborate with the tribe on the processing and distribution of their Colombian-grown cannabis while offering Manasr a powerful platform for product distribution. In return, Flora will be able to leverage the tribe’s unique regulatory positioning to expedite exports and increase global market penetration of Colombian cannabis goods.

“We look forward to a long-standing relationship with such a powerful community partner.”

The initial term of the agreement is three years, however, the intention is to create a “lasting and mutually beneficial relationship for the foreseeable future”, the company said.

This announcement comes two weeks after Flora Growth’s CEO Luis Merchan met with Colombian Senator Gustavo Bolivar, the author of a new bill to legalise recreational cannabis.

Bolivar, the key author of the bill, and Merchan discussed the top tenants of the bill, the bill’s implications for companies such as Flora in Colombia and what legalisation means for the country’s burgeoning domestic and international cannabis markets.

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Cresco Pharma to acquire Australia’s Health House for $4.6m

The acquisition will help further Cresco’s presence in Europe and the UK.

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Cresco Pharma to acquire Australia’s Health House for $4.6m
Home » News » International » Apollon Formularies to serve South Africa with new venture

Cresco Pharma is to acquire 100 per cent of Health House International (HHI) under a non-binding term sheet agreement.

Switzerland-based Medical cannabis product developer, Cresco Pharma, has said that the $4.6m (~£3.76m) acquisition of international medical cannabis distributor, Health House, will unlock a number of new markets for the company across the UK, Europe and Australia. 

The acquisition is subject to Creso completing satisfactory due diligence on Health House’s businesses.

Read more: Agreement reached for landmark Columbia Care deal

Group CEO and managing director of Cresco Pharma, William Lay, said: “The proposed acquisition of Health House has a number of potential benefits for Creso Pharma. 

“Subject to a formal Scheme  Implementation Deed being executed, implementation of the scheme would result in Creso Pharma significantly strengthening its global distribution capabilities and unlocking a number of new markets across the  UK, Europe and Australia. 

“The company intends to undertake due diligence on Health House’s operations immediately and explore the potential to leverage the group’s existing relationships for Creso Pharma’s own product ranges.

“Further, the company will investigate other potential opportunities including HHI’s existing EU-GMP product manufacturing capabilities and how these can further benefit Mernova, SSH and  Creso Switzerland as we push to establish a presence in Europe and the UK.

“We look forward to progressing work towards implementation of the Scheme and will provide ongoing updates as due diligence requirements are met and additional opportunities materialise.”  

The news follows the failed merger between Health House and Zelira Therapeutics Limited. The proposed acquisition was terminated due to a “substantial change in market conditions since the scheme was originally announced”. 

Health House currently has supply agreements in place with several pharmaceutical grade GMP-certified manufacturers and producers of medicinal cannabis products, and also owns a medicinal cannabis consultancy in the EU.

The company is currently supporting a non-interventional study in Germany, launched by another Health House group company, that considers the effect on quality of life of patients and the safety and tolerability of cannabis medication.

Recently, Health House announced that its wholly-owned subsidiary CanPharma GmbH has continued its strategy to enter into preferred supplier agreements with German statutory health insurance (SHI) funds, securing agreements with five funds to date. 

CanPharma’s latest agreement with Techniker Krankenkasse, the largest German statutory health insurance fund represents more than 10 million insured individuals, bringing the total number of patients that SHI funds cover, with preferred supplier agreements with CanPharma, to over 35 million, representing almost 50 per cent of the total number of insured Germans. 

Creso Pharma has stated that the proposed acquisition of Health House would create a global organisation with strong medicinal cannabis production and distribution capabilities, as well as a growing revenue profile. However, it emphasises that, until due diligence is completed and a binding Scheme Implementation Deed is executed by the parties, there is no certainty that the acquisition of Health House will proceed.

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